Candriam S.C.A. Purchases 7,334 Shares of Eversource Energy $ES

Candriam S.C.A. boosted its position in shares of Eversource Energy (NYSE:ES) by 10.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,832 shares of the utilities provider’s stock after acquiring an additional 7,334 shares during the period. Candriam S.C.A.’s holdings in Eversource Energy were worth $5,016,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. PDS Planning Inc boosted its position in shares of Eversource Energy by 4.7% in the second quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock valued at $244,000 after acquiring an additional 173 shares during the period. Avidian Wealth Enterprises LLC raised its stake in Eversource Energy by 2.9% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock valued at $393,000 after purchasing an additional 176 shares during the last quarter. Thrive Wealth Management LLC boosted its holdings in Eversource Energy by 3.6% in the 2nd quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider’s stock valued at $346,000 after purchasing an additional 189 shares during the period. Penobscot Investment Management Company Inc. grew its position in Eversource Energy by 1.4% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider’s stock worth $917,000 after purchasing an additional 195 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in shares of Eversource Energy by 17.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,286 shares of the utilities provider’s stock worth $82,000 after purchasing an additional 195 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP James W. Hunt III sold 4,129 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the sale, the executive vice president directly owned 32,415 shares of the company’s stock, valued at $2,358,839.55. This trade represents a 11.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Loretta D. Keane acquired 3,780 shares of Eversource Energy stock in a transaction on Friday, August 22nd. The stock was acquired at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the purchase, the insider owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. This represents a 45.80% increase in their position. The SEC filing for this purchase provides additional information. 0.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ES shares. UBS Group cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research note on Thursday, November 6th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. TD Cowen initiated coverage on Eversource Energy in a report on Thursday, October 16th. They set a “hold” rating and a $76.00 price objective on the stock. Jefferies Financial Group upped their target price on Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research note on Wednesday, October 22nd. Finally, Wells Fargo & Company assumed coverage on Eversource Energy in a research report on Tuesday, October 28th. They issued an “overweight” rating and a $79.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $72.70.

Eversource Energy Stock Down 0.5%

Shares of NYSE ES opened at $73.31 on Friday. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $75.25. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. The business has a fifty day moving average of $70.78 and a two-hundred day moving average of $66.56. The stock has a market cap of $27.51 billion, a PE ratio of 20.09, a PEG ratio of 2.63 and a beta of 0.69.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $1.13 EPS. As a group, equities research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s payout ratio is presently 82.47%.

Eversource Energy Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.